Volare secures €26M for insect protein site to boost EU food system circularity

Finnish biotech company Volare has raised €26 million (US$29.4 million) in funding to build what it describes as the “world’s most efficient protein product plant” and scale its insect protein technology. The company plans to use the investment to strengthen the EU’s protein self-sufficiency and accelerate the transition to a more sustainable and circular food system.

According to the European Commission, the EU is currently only 34% self-sufficient in protein concentrates, which contain more than 30% protein. This leaves a heavy reliance on imports, making the food system increasingly vulnerable to supply chain disruptions, geopolitical tensions, and price fluctuations, states Volare.

The facility, Volare 01, will be set up in Pori, Finland, where the company’s local production model will convert food industry byproducts into circular, insect-based protein. 

The approach reduces waste, supports regional agriculture, and strengthens the resilience and self-sufficiency of the EU’s food system.

Volare uses black soldier fly to convert food industry byproducts into insect protein, oil and fetilizer.

Tapping “nature’s bioreactor”

The company leverages black soldier fly (Hermetia illucens) in its protein production process, calling it “nature’s most efficient bioreactor.” The insects naturally convert food industry byproducts into high-value resources, which Volare upcycles into premium insect protein, oil, and fertilizer.

“This is the most efficient way to produce protein, combining low-value raw materials, nature’s own bioreactor, and proprietary ultra-efficient technology — a combination that’s hard to beat,” says Jarna Hyvönen, CEO of Volare.

“The result is a process with emissions significantly lower than conventional alternatives, up to 4-8 times lower than soy. This investment marks a major step toward full-scale operations and reinforces Volare’s position at the forefront of the global protein transition.”

Volare also uses its sustainable ingredients in aquafeed, pet food, and poultry feed, offering a scalable alternative to environmentally intensive ingredients such as fishmeal, meat, and soy.

Eyeing global growth

Volare is also piloting insect-fed rainbow trout in Finland through a 150,000 kg collaboration with Finnish aquaculture firms Alltech Fennoaqua, Kalankasvatus Vääräniemi, and Kalavapriikki. 

The new plant is expected to produce protein equivalent to the yield of 200 million Baltic herrings annually (Image credit: Volare).As large-scale production begins, Volare aims to support Norwegian producers with a high-quality, regionally sourced alternative to imported fishmeal with shorter lead times, lower emissions, and improved supply reliability. 

It claims the Volare 01 plant will produce protein equivalent to the yield of 200 million Baltic herrings annually, approximately 18% of Finland’s total commercial fish catch in protein terms. 

“Volare was founded on the vision that protein can, and must, be produced in a radically more efficient and sustainable way. Now, we’re entering a new phase: scaling up to full industrial production,” says Tuure Parviainen, chief science officer and co-founder of Volare.

“Our new facility will bring our proprietary, zero-waste, fossil-free process to life at scale, transforming food industry byproducts into high-quality protein and strengthening Europe’s food resilience.”